Lutnick's Nvidia ties draw scrutiny after Jensen Huang resigns

Commerce Secretary Howard Lutnick faces scrutiny over his family's financial ties to Nvidia following CEO Jensen Huang's resignation, with his sons' firm Cantor Fitzgerald reducing its Nvidia stake while Lutnick resisted crackdowns on suspected chip smuggling to China. Cantor Fitzgerald, now led by Lutnick's sons Brandon and Kyle, cut its reported Nvidia shares by nearly 50% between September 2025 and March 2026, while continuing to arrange billions in financing for Nvidia partners like IREN and Lancium. Lutnick received classified warnings about Huang's suspected Chinese spy ties but resisted export restrictions, despite pressure from intelligence officials and other departments. No evidence links the stake reduction to intelligence warnings or shows Lutnick shared nonpublic information, though ethics experts note the appearance raises questions. Treasury Secretary Scott Bessent said Commerce was responsible for imposing restrictions on suspected smuggler Megaspeed, and senators have demanded records on Nvidia chip exports.